Banks have cut credit lines for traders shipping food to war-torn Yemen, where ports have been battlegrounds and the financial system is grinding to a halt, choking vital supplies to the state.
Lenders are increasingly unwilling t
Kuwait witnessed a steady 8 per cent growth in its bank credit in January mainly driven by the household borrowing despite a third consecutive month of declining business credit, said a report.
The household debt remained the most
Kuwait's bank credit increased by KD391 million ($1.37 billion) in October, pushing year-on-year growth to 7.8 per cent and marking the largest monthly gain in five years, a report said.
October’s data confirms the accel
Total bank credit in Kuwait rose by a strong KD290 million ($1.01 billion) in May to KD27.8 billion, with year-on-year (y/y) credit growth accelerating to 6.4 per cent, the fastest pace since the slowdown of late-2009, a report said.
Ireland disclosed a mammoth "final" price tag of nearly 40 billion euros ($54.33 billion) on Thursday for bailing out its distressed banks and said it would have to make more drastic budget savings.
As markets contemplated Dublin's ever gr
Oman will keep interest rates close to zero for the foreseeable future to prevent a further surge of liquidity into the Gulf country's banking system, the oil producer's central bank head said on Wednesday.
The Sultanate has been keeping t
The Gulf region's economic recovery risks are being hampered as lending remains tight and state conglomerate Dubai World struggles to resolve its debt problems, a senior investment banker said.
Dubai, one of the seven sheikhdoms that m
Saudi bank credit growth edged up 0.14 per cent in October compared to September, official data showed on Thursday.
Bank credits stood at SR722.6 billion ($192.7 billion), up from SR721.6 billion in September, the Saudi Arabian Monetary Ag
Mag Group Property Development has called on banks to relax their lending criteria to prospective mid-price range home owners in order help them to raise affordable mortgages.
Mohammed Nimer, CEO of Mag, which is involved in Dh3 billion ($